Let’s be honest. Buying and selling real estate in the 21st century is a complicated endeavor. While some may find the experience thrilling and enticing, most people are often overwhelmed with the volume of rules, regulations, processes, and procedures involved in buying and selling a property. A successful real estate negotiation lawyer can assist you with the required answers to some important questions before the negotiations begin.
Everyone involved in the purchase or sale of a property is looking to get a fair and equitable deal. However, there are many unforeseen circumstances and situations that occur throughout your average real estate negotiation that can redefine what is ‘fair’ for either party. Let’s face it. Anyone who comes to the negotiation table unprepared risks losing a lot of money. A successful real estate negotiation requires answers to some important questions before the negotiations begin. To give you an idea of what you need to know, here are just a few of those pre-negotiation questions:
How Much Will The Listed Price Change?
Whether buying or selling, it is important to understand a fundamental fact about the listing price in real estate. That number is just the starting point to the entire process. While real estate veterans know this all too well, inexperienced property buyers and sellers are often surprised by the fluctuation of the property’s price. There are many factors that contribute to adjustments to the listed price, like:
- Results of the property appraisal
- Repairs needed to structures on the property
- Additional items, structures, or possessions included in the sale of the property
- Any sale incentives like new appliances included in the sale
- Closing costs
Again, these are the more common variables that can move the price point positively or negatively. As always, the more complicated the circumstances surrounding the property, the more opportunities to lose money in the process.
Have You Done Your Homework?
There is quite a lot of research that needs to be performed in a real estate venture, especially on the front end of the process. There are a wide variety of questions to consider before too many steps are taken towards purchasing property, like:
- Location – This question is typically for buyers to answers as it is important to know the property and school district tax requirements and property values in the area you’re looking to buy property in
- Fair Market Value – It is always a good idea to research the average value of commercial or residential properties are in your area of interest
- Zoning Laws/Regulations – You’ll probably like to know if you’re purchasing residential property near an airport or a factory before you sign on the dotted line. Business owners would be wise in researching whether their prospective property is zoned for commercial use.
A little research can go a long way towards mitigating financial losses or preventing strategic errors when making property purchasing or selling plans.
A Negotiating Lawyer from Shawn Bolger Will Assist You and Protect Your Interests
Shawn Bolger Ltd. has the knowledge and experience you need to successfully negotiate the best property purchase or sales deal for yourself, your family, or your business. So, before you take your first step into the complicated real estate marketplace, schedule a free consultation with one of our expertly trained team members and let us put our 30 years of real estate purchasing and sales knowledge and experience to work for you. Simply call us at 847-584-1800 and take the stress out of your next real estate negotiation.
Real Estate Negotiation Lawyer | Shawn Bolger Ltd